South Bow Corporation (NYSE:SOBO) Given Average Recommendation of “Hold” by Brokerages

South Bow Corporation (NYSE:SOBO) has earned an average rating of “Hold” from the sixteen research firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $31.5714.

A number of research firms have commented on SOBO. BMO Capital Markets reaffirmed a “market perform” rating on shares of South Bow in a research report on Monday, July 6th. The Goldman Sachs Group began coverage on shares of South Bow in a report on Monday, April 20th. They issued a “sell” rating and a $29.00 price objective on the stock. National Bank Financial increased their price objective on shares of South Bow from $31.00 to $35.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. TD Securities restated a “hold” rating on shares of South Bow in a research note on Thursday. Finally, Wall Street Zen raised shares of South Bow from a “sell” rating to a “hold” rating in a report on Saturday.

Institutional Investors Weigh In On South Bow

A number of institutional investors have recently made changes to their positions in SOBO. Intact Investment Management Inc. grew its position in shares of South Bow by 19.6% in the fourth quarter. Intact Investment Management Inc. now owns 964,360 shares of the company’s stock valued at $26,522,000 after purchasing an additional 158,100 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in South Bow by 204.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 118,991 shares of the company’s stock worth $3,366,000 after purchasing an additional 79,858 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in South Bow by 7.6% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,336,103 shares of the company’s stock worth $36,700,000 after purchasing an additional 93,805 shares during the last quarter. Vanguard Group Inc. lifted its holdings in South Bow by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 8,667,365 shares of the company’s stock worth $238,387,000 after purchasing an additional 118,147 shares during the last quarter. Finally, Miller Howard Investments Inc. NY boosted its stake in South Bow by 4.6% in the 4th quarter. Miller Howard Investments Inc. NY now owns 798,348 shares of the company’s stock valued at $21,931,000 after purchasing an additional 35,331 shares during the period.

South Bow Stock Performance

SOBO opened at $37.86 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 2.16. South Bow has a 12-month low of $25.01 and a 12-month high of $38.45. The business has a 50 day moving average of $36.62 and a 200-day moving average of $32.94. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 18.65 and a beta of 0.16.

South Bow (NYSE:SOBO) last posted its earnings results on Thursday, May 7th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). South Bow had a return on equity of 15.24% and a net margin of 21.32%.The business had revenue of $491.00 million for the quarter, compared to analyst estimates of $491.21 million. During the same period in the previous year, the firm posted $0.47 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts expect that South Bow will post 1.77 earnings per share for the current year.

South Bow Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.00 annualized dividend and a yield of 5.3%. South Bow’s dividend payout ratio (DPR) is 98.52%.

South Bow Company Profile

South Bow Corp is a strategic liquids pipeline company. It is a new liquids-focused midstream infrastructure company. South Bow Corp is based in Canada.